Eurozone confidence slides to lowest since 2015; France keeps growing – business live | Business

Good morning, and welcome to our rolling protection of the world economic system, the monetary markets, the eurozone and enterprise.

France’s economic system has defied the doubters by rising quicker than anticipated, regardless of indicators of a world slowdown.

The eurozone’s second-largest economic system expanded by zero.three% within the third quarter of 2019, new official figures present.

That’s quicker than the zero.2% anticipated, and matches the zero.three% recorded in April-June.

INSEE, the nationwide statistics workplace, stories that family spending accelerated over the summer season. It rose by zero.three% in July-September, up from zero.2%, as shoppers stored the economic system ticking over.

Nonetheless, web commerce had a damaging influence on development. That’s as a result of imports jumped by 1.four% (having shrunk zero.three% in Q2), whereas exports solely rose by zero.three% (up from zero.1%). An indication that commerce battle is hurting, maybe.

However with corporations persevering with to take a position (+zero.9%, down from 1.2%), and restocking their inventories, the general development fee remained regular.

On an annual foundation, France’s economic system has solely grown by 1.three% over the past yr. That’s hardly spectacular.

However at a time when the eurozone is struggling, and the world economic system is slowing, president Emmanuel Macron could also be fairly content material with at the moment’s knowledge.

Extra to comply with…..

Additionally developing at the moment

We don’t get Q3 GDP knowledge from Germany till subsequent month, however at the moment’s unemployment figures might bolster fears that it’s in recession.

New GDP knowledge for America is predicted to point out development slowed, because the commerce battle with China hits demand and confidence.

Then the large occasion, the Federal Reserve determination. America’s central financial institution will in all probability vote to chop rates of interest for the third time this yr, to a 1.5% to 1.75% vary.

Fed chair Jerome Powell will then maintain a press convention, the place he’ll in all probability area extra questions in regards to the state of the economic system, inflation expectations, and up to date liquidity shortfalls within the cash markets.

He’ll even be requested in regards to the stream of assaults from Donald Trump (who retains claiming the Fed is clueless).

The agenda

• eight.55am GMT: German unemployment complete for October – anticipated to rise by 2,000
• 10am GMT: Eurozone financial, enterprise and client confidence figures for October
• 12.30pm GMT: US GDP for Q3 2019:
• 6pm GMT: Federal Reserve financial coverage determination
• 6.30pm GMT: Fed chair Jerome Powell’s press convention